Instructions for Schedule M-3 (Form 1065) - Introductory Material

Future Developments

For the latest information about developments related to Schedule M-3 (Form 1065) and its instructions, such as legislation
enacted after they were published, go to www.irs.gov/form1065.

What's New

For tax years ending December 31, 2014, and later:

Form 1065 and Form 1065-B filers that (a) are required to file Schedule M-3 (Form 1065) and have less than $50 million total
assets at the end of the tax year or (b) are not required to file Schedule M-3 (Form 1065) and voluntarily file Schedule M-3
(Form 1065), must either complete Schedule M-3 (Form 1065) entirely or complete Schedule M-3 (Form 1065) through Part I and
complete Form 1065, Schedule M-1 instead of completing Parts II and III of Schedule M-3 (Form 1065). These filers are not
required to file Schedule C (Form 1065) nor Form 8916-A. If these filers choose to complete Form 1065, Schedule M-1 instead
of completing Parts II and III of Schedule M-3 (Form 1065), line 1 of Form 1065, Schedule M-1 must equal line 11 of Part I
of Schedule M-3 (Form 1065).

Any filer that completes Parts II and III of Schedule M-3 (Form 1065) must complete all columns, without exception.